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If you’ve found a 1948 penny and want to know its value, then you’ve come to the right place!
Today I’m going to talk about 1948 Wheat pennies, including:
- How much a 1948-S penny, a 1948-D penny, and a 1948 penny with no mintmark under the date are worth
- The most valuable 1948 penny
- How many 1948 pennies were made
- Which 1948 pennies are rare
- 1948 error pennies to look for — including doubled die 1948 pennies
All 1948 Penny Values
So… what’s your 1948 penny worth?
Probably not as much as you had hoped, but it’s definitely worth more than face value!
A typical 1948 Wheat cent with moderate to heavy wear (which pretty much describes most old pennies you’ll find in pocket change) is worth 3 to 5 cents.
That’s the average value for any old 1948 Wheat penny you’ll find in circulation — including a 1948-D penny from the Denver Mint and a 1948-S penny that was made in San Francisco.
TIP: If you see a 1948 Wheat penny without a mintmark (that little letter under the date), then it was made at the Philadelphia Mint.
Some 1948 pennies are worth much more!
A 1948 Wheat penny that is well-preserved, say in “mint” condition (or what coin collectors call uncirculated or mint state) can be worth 75 cents to $5… or more.
In fact, one of the most valuable 1948 pennies was sold in 2012 for $10,350. This nearly perfect penny was graded Mint State 67 “Red” by Professional Coin Grading Service and encapsulated in a certified plastic “slab.”
NOTE: Slabbed coins are traded by collectors and won’t be found in circulation.
How Many 1948 Wheat Pennies Were Made?
Here’s a breakdown on how many 1948 pennies were struck at the Philadelphia, Denver, and San Francisco Mints:
- 1948 penny — 317,570,000 minted
- 1948-D penny — 172,637,500 minted
- 1948-S penny — 81,735,000 minted
*These mintage figures are for business-strike pennies. The United States Mint did NOT strike proof coins for collectors in 1948.
Understanding the quantity of coins minted helps provide context to a coin’s availability in circulation (for collectors) – which ultimately affects the coin’s scarcity, rarity and value.
IMPORTANT: What Is The Grade Of Your 1948 Penny?
To determine the true value of your 1948 Wheat penny, you first need to know what condition (or grade) your coin is in.
How to Grade Coins Yourself
Grab a coin magnifier and a copy of the U.S. Coin Grading Standards book. Then, watch this video to see how to grade coins yourself at home:
These are the best coin grading apps that will make grading coins yourself much easier.
By the way, you don’t need an expensive grading manual to see if your 1948 penny has real potential…
Flip the coin over to the front and look at Abraham Lincoln’s shoulder. Specifically, check the small triangular lapel coat fold right below his bow tie. On a heavily worn penny, that lapel completely blends flat into his chest. If that little triangle line is sharp, distinct, and completely separated from his coat jacket, your coin has survived with minimal wear and is a great candidate for your coin album!
Rare 1948 Pennies To Look For
As the production figures above suggest, 1948 pennies are NOT rare.
You might not see many of them in pocket change, but there are still millions sitting around in collections and hoards.
While a 1948 penny is not a rare coin, there are some unusual 1948 pennies that are scarcer than the typical 1948 Lincoln Wheat cent!
Collectors of error coins and varieties will be glad to know that there are several 1948 doubled die pennies to look for:
There are also other types of 1948 penny oddities to look for:
If you’re holding a 1948-S penny, be sure to look at that tiny “S” under the date in good lighting…
In 1948, a Mint worker messed up a punch and created a famous variety known as the 1948-S/S Repunched Mintmark. Using a 10x magnifier, look closely at the “S”. On a genuine repunched mintmark error coin, you’ll see a distinct, clear extra curve of copper sticking out right along the inside loop or the top curve of the primary “S”. Finding one of those adds a nice little premium to the the coin, and it’s a fantastic way to train your eyes to spot real-deal Mint mistakes!
READ NEXT: A List Of The Most Valuable U.S. Pennies
Do you have a 1948 Wheat penny? Think there may be something unique about it? Post a picture of your coin in the comments below and I’ll try to help!
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